Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-11-30-Speech-3-078-000"
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"en.20111130.14.3-078-000"2
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"Madam President, it is high time we stopped entertaining illusions that the problems of the euro area concern only those countries which have been pursuing an extravagant or irresponsible macrofinancial policy. Recent events – problems with selling German debt securities, the pillar of the European economy – provoke the question as to where this will all end. Recent events have confirmed that no country in Europe is safe in the face of the unprecedented panic in the financial markets. It is high time that radical and rapid action be taken, and we should call on the European Council to do this.
We hear the Council is to consider proposals to revise the Treaties. So I have a question about how these revisions are to be ratified. They cannot, after all, be carried out using a simplified revision procedure because of the strong interference in the sovereignty of the Member States. We must remember that any kind of change requires in some countries that a referendum be held. How does the Council intend to convince the people of Ireland that the proposed changes are in their interests and not in those of international banks? There can be no doubt that the time has come for radical decisions and original ideas to ensure financial stability. Nothing can be rejected or precluded in advance. Every measure should be put in place which can help give greater internal strength to the whole of a Europe of 27 countries."@en1
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